As described in U.S. Utility patent application Ser. No. 10/107,420 filed 26 Mar. 2002 (Now U.S. Pat. No. 7,155,510) and entitled System and Method for Forecasting Information Using Collective Intelligence from Diverse Sources (which application is incorporated by reference herein), it is possible to construct a real-time forecast system that includes: (a) means for gathering forecasts from a plurality of individuals or other entities within a defined period of time; (b) means of filtering and processing these individual forecasts to generate a collective forecast, and (c) means for communicating the collective forecast back to individuals very quickly.
However, even such a forecasting system generally operates with greater prediction or forecasting accuracy as greater numbers of forecasts are gathered from users (also referred to as contributors). Users, in turn, are more likely to provide a larger number of forecasts if one or more of and preferably all of the following are true of the system: (a) the system is very easy to use initially; (b) the system already has some forecasts or predictions at the time the user first uses the system; and (c) the system becomes even easier to use (or more useful with ease of use) upon repeated use.
Therefore, there remains a need for a system and method for forecasting that encourages new and previous users to continue to utilize such a forecasting system and method of forecasting by making it easier to use and contribute to such forecasts so that larger numbers of forecasts may be obtained and the forecasting accuracy may increase to the extent possible by the increased participation and number of contributions.